Doc, I was just looking at that on the chart.
I like using the Fibonacci tools, among others, and the way they show the target patterns. I believe the trading is mostly done by computer systems, how would computer systems decide when and where to trigger trades? I believe they use all kinds of math equations,volume, price patterns,options dates, many things, but all technical. After watching price action closely for 15 years, I'm convinced the system includes Fibonacci math. Anyway, it's showing targets in the 4's now, and the old support shelf around 4.65 is the center. I'm looking at the target steps 4.90/4.80/4.70/4.65/4.60/4.50 . Resistance now, looks like the 5.30/5.40 area, to rollover and down another 50/70 cents.
4.65 in play.🎱 🤔
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The daily MA's around 5.50 got shattered. No support strength at all. The trading bots are clever to pivot at 5.10.... as if it won't touch the 5.00. The resistance is around 5.30 now,waiting to roll over, like 5.60/5.70 did... and I'd be anticipating a plunge right through 5.00 to pause around 4.85, and rollover again at 5.15, tumbling to the computer systems Intended Target. Intended Target. 4.65 area. This downwave began from the 6.65 peak. A 2 dollar move , for the precise computer system.
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